Wednesday, April 19, 2006

Qualcomm's surge

Wireless giant Qualcomm has reached a market capitalization higher than that of Genentech or Amgen, the two biggest biotech companies, or the Walt Disney Company. Qualcomm's is almost $87 billion, Genentech's just under $85 billion and Amgen's just over $80 billion. Disney's market cap is slightly over $53 billion.

If I'm not mistaken, San Diego-based Qualcomm is at present the most highly valued public company in Southern California. This has happened before, but then Qualcomm's stock slid back, while that of the two biotechs rose. And to put matters into further perspective, Qualcomm is still far below its all time high, reached at the start of 2000.

Still, Qualcomm's huge jump in market value over the last year is impressive.

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